Paypal CEO Is a HODLr, but Only Owns Bitcoin

[kryptqnick]

PayPal CEO Dan Schulman, in describing why the payment company decided to withdraw from Libra, also revealed that he is a hodlr of cryptocurrency, but only Bitcoin.

Interviewed by Fortune magazine, he answered the question if he personally owned any cryptocurrency:

“Yes. Bitcoin.”

Source link here

This sounds potentially great, but let's not get too excited about this one. You see, it reminds me of the stuff the Libra CEO said and then people started speculating that he's bullish about Bitcoin. That guy said that he sees Bitcoin's potential as something like gold, but that Bitcoin cannot be a medium of exchange, it should not be considered as money. This hodler might be similar. He might hodl Bitcoin, believing that it's a good investment opportunity, a great asset or whatever, but he might not even consider implementing Bitcoin into PayPal or anything like that.

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[bounceback]

PayPal CEO Dan Schulman, in describing why the payment company decided to withdraw from Libra, also revealed that he is a hodlr of cryptocurrency, but only Bitcoin.

Interviewed by Fortune magazine, he answered the question if he personally owned any cryptocurrency:

“Yes. Bitcoin.”

behind all that maybe Paypal's CEO, he also thinks that the Libra project won't be a good stable coin in the future and their current project isn't really clear when it will be launched so Paypal's CEO withdraws from Libra, I think Paypal's CEO only holds bitcoin, maybe he is very confident with bitcoin as a protection of his assets and he doesn't want to risk losing money by holding another altcoin whose price is less stable.

[ampu]

Holding Bitcoin is a smart move because Bitcoin is less likely to lose money in the long run.  Paypal's boss is a smart investor.  Investing in bitcoin is an investment in the future.  I have seen a lot of traders see altcoins and rush into them.  The result is failure and losing all of your Bitcoin.  It is best to just buy more Bitcoin and keep them long enough.  I think Bitcoin will reach a new high soon in the next 1-2 years.

[buwaytress]

If we can all stop being so surprised by CEOs having Bitcoin, yeah, that'd be great. You think all these old-school financial bankers etc don't have advisors telling them to at least have a tiny hedge? And right now, if you had wealth of $100M, even a tiny 0.1% hedge would be 10 BTC. I bet you lots of super wealthy outwardly anti-Bitcoin have some.

Whether it's a holding in BitGo, or Coinbase, or their own ledger, is another matter.

[Beparanf]

Holding Bitcoin is a smart move because Bitcoin is less likely to lose money in the long run.  Paypal's boss is a smart investor.  Investing in bitcoin is an investment in the future.  I have seen a lot of traders see altcoins and rush into them.  The result is failure and losing all of your Bitcoin.  It is best to just buy more Bitcoin and keep them long enough.  I think Bitcoin will reach a new high soon in the next 1-2 years.

Bitcoin is the safest to hold among cryptocurrency as some altcoins price depend on bitcoin. Many businesses or popular business man are now holding bitcoin as they see the potential or they already experience it when bitcoin pumps before.

[Aikidoka]

If bitcoin will be added as a source of payment in PayPal, then it will be great. I meant that will be so interesting and probably bitcoin will gain a high value because of that as we all know that millions of people around the world using PayPal, so people will probably join our big bitcoin community and that's gonna help bitcoin a lot to be spread around the world.

[FaithInCrypto]

Paypal CEO made a good decision in holding Bitcoin but I'm not sure if he'll really use and integrate it as one of the currencies or like Visa and Mastercard do. If he had been using Bitcoin ever since he should've made it as one of the options on Paypal so let's just hope that he does in the near future.

[The Sceptical Chymist]

I am not sure also about the term HODLr and how much he owns, so we can determine also if he plays a big role in every price movement especially if he is one of the big whales out there.

Well, if he's actually holding bitcoin and not actively trading it, which is probably the case since I assume he's wealthy and wouldn't need to trade bitcoin, I doubt his transactions are affecting the price much.  Rich people tend to try to protect their wealth instead of increasing it, but who knows.  And we don't know if he's one of those whales anyway.

As far ask PayPal adding a bitcoin payment option, I doubt that's going to happen but it sure would be nice if there was some sort of option to pay for things on sites like eBay with bitcoin, which PayPal could provide.  Other than that, if funds need to be sent between two individuals, PayPal isn't needed--bitcoin serves that function just fine, and if you're talking about sending money to a different continent it's usually cheaper than PayPal (depending on network fees).

I do find this encouraging that a corporate bigwig is holding bitcoin.  Obviously he sees some value in it, and a statement like the one he made is bullish overall.  Props to him.

And OP, it didn't go unnoticed that you've stopped including huge images in threads like these.  Much appreciated, thank you!

[7788bitcoin]

PayPal CEO understands that Bitcoin is the most resistant to the environment of the crypto market and possible future rapid recession. Why should he HODL something other than Bitcoin?

Why are these investment from company owners newsworthy, is this the new way of marketing bitcoin  . The real reason is that everyone wants to share the limelight that they are early investors of bitcoin and other than that i do not see that as news worthy as many invested in the market but he has done nothing to promote bitcoin to have a wider adoption, i care less what anyone holds but if the CEO is that position why don't they start accepting bitcoin in their wallets and it will be a new project that will help their business too.

[Kahoy01]

Holding Bitcoin is a smart move because Bitcoin is less likely to lose money in the long run.  Paypal's boss is a smart investor.  Investing in bitcoin is an investment in the future.  I have seen a lot of traders see altcoins and rush into them.  The result is failure and losing all of your Bitcoin.  It is best to just buy more Bitcoin and keep them long enough.  I think Bitcoin will reach a new high soon in the next 1-2 years.

Bitcoin is the safest to hold among cryptocurrency as some altcoins price depend on bitcoin. Many businesses or popular business man are now holding bitcoin as they see the potential or they already experience it when bitcoin pumps before.

These people are realizing how good the cryptocurrencies are for alternative digital investment. Maybe someday they implement such system on paypal, and try to be an investment platform sooner or later. Can't blame his decision after all.

[momchilandonov]

The fact that he's a btc hodler doesn't mean he could easily add btc feature to paypal. Guys, it's a centralized service, so he should solve some legal staff to make this possible.

[ronetteplsk]

Now it may be more profitable to create your own cryptocurrency business than to expect when Facebook will be able to launch its project. In addition, when China opens its activity on active work on cryptocurrencies, it is therefore beneficial for paypal to maintain its client base by offering new services.

[TRONTON]

when Peter Thiel's era also had the same attitude, basically paypal really appreciate bitcoin. The mind of most people who only become loyal holders is due to seeing the Btc deflation system which will be very thick in the coming eras.

Or they want to set up a large backup to patent a new blockchain application as has been started by other large companies.

[tsaroz]

Glad to see Paypal CEO being bullish on bitcoin and sad to see Paypal still has not implemented any way to fund the wallet with bitcoins. Moreover their anti crypto instance on crypto trading is putting down many users. Skrill at least has integrated bitcoin deposit for selected market but the startup founded by crypto enthusiast Elon Musk and headed by a bitcoin holder is still suspending accounts of users buying and selling crypto.

[dimonstration]

Even he is a holder he will for sure not add bitcoin as a way to fund our PayPal accounts as it differs in purpose of being decentralised of crypto and PayPal being connected in banks and centralised platform. However PayPal can be used in many online transactions as many website credited the use of PayPal now a days without debate unlike in BTC now,but will have it's adoption too maybe soon.

[makolz26]

Even he is a holder he will for sure not add bitcoin as a way to fund our PayPal accounts as it differs in purpose of being decentralised of crypto and PayPal being connected in banks and centralised platform. However PayPal can be used in many online transactions as many website credited the use of PayPal now a days without debate unlike in BTC now,but will have it's adoption too maybe soon.

No matter how much he is hodling still a great advantage for all of us that one of the CEO is seeking and bought CEO, it means that he have seen the potential growth and return of his investment in Bitcoin, it will be a good way as for sure he will recommend this to his friends, which are also businessmen and the mass adoption will continue to grow more and more.

[Asmonist]

Well, that's exactly describe how bitcoin become what it is now. Some are in denial about using bitcoin maybe for their protection a d we all know that bitcoin is really a very secretive asset. If we ordinary people had acquire it, how much more for like them that has the capacity to do so. That's why today it seems the price are so stagnant and seem going down maybe these people are hodling that much of it. The circulation of bitcoin now is not really that much. I mean its so unpredictable but I still believe the volume of supplies is increasing while the demand is decreasing that makes downfall on going.

[Savemore]

Even he is a holder he will for sure not add bitcoin as a way to fund our PayPal accounts as it differs in purpose of being decentralised of crypto and PayPal being connected in banks and centralised platform. However PayPal can be used in many online transactions as many website credited the use of PayPal now a days without debate unlike in BTC now,but will have it's adoption too maybe soon.

No matter how much he is hodling still a great advantage for all of us that one of the CEO is seeking and bought CEO, it means that he have seen the potential growth and return of his investment in Bitcoin, it will be a good way as for sure he will recommend this to his friends, which are also businessmen and the mass adoption will continue to grow more and more.

It is good to hear that even the ceo of paypal is seeing opportunity in bitcoin and it is the reason why he have bitcoins and he keep holding it. There are also big personalities who bought bitcoin like bill gates, he admitted that he bought bitcoins and he claims that it is better than fiat currencies.

[Gotumoot]

This is in contrast of former PayPal CEO Bill Harris statement, Bitcoin is ‘useless as a payment mechanism and ridiculous as a store of value,’ ex-PayPal CEO says.

So it's good that Paypal's CEO of today really "believed" in BTC, so we don't know maybe we can see Paypal readily accepts it as payment options in the future. Maybe this was a sign, of pitching bitcoin specially that the CEO itself knows that bitcoin is the future.

This is good news as many people are looking forward to chance that PayPal accepting Bitcoin to their platforms. So if this happens there is a great potential that bitcoin will become even more recognizable and many people will have awareness about bitcoin.
But we don't know what paypal CEO thinks, but I see that is the very first step of paypal to accept bitcoin in the future.  Maybe now let's just pray.

[Dart18]

Maybe he will not go that far.
He is for hodling maybe just in case it pumps.
Or is he evading tax?  
We don't know for sure. But this might not be a big reason for him to add Bitcoin in his services.
There will some ruling with it and it could mean more paperworks.
If I am the owner of a big company like that, I may not want to ruin it with an addition of something which some people do not understand yet.